Strategic Brand Management Chapter 5

any information-bearing experience that a customer or prospect has with the brand, the product category, or the market that relates to the marketer’s product or service
experiential marketing
promoting a product by not only communicating a product’s features and benefits but also connecting it with unique and interesting experiences
one-to-one marketing
consumers help to add value by providing information to marketers; marketers add value, in turn, by taking that information and generating rewarding experiences for consumers
permission marketing
the practice of marketing to consumers only after gaining their express permission
relationship marketing
provide a more holistic, personalized brand experience to create stronger consumer ties
perceived quality
customers’ perception of the overall quality or superiority of a product or service compared to alternatives and with respect to its intended purpose
3-D marketing
emphasizes three product or service benefit dimensions: functional benefits, process benefits, relationship benefits
value chain
a strategic tool for identifying ways to create more customer value
those marketing activities that occur after customer purchase
loyalty or frequency programs
programs established through different mixtures of specialized services, newsletters, premiums, and incentives
price bands
a range of acceptable prices
value-based pricing strategies
attempting to sell the right product at the right price
value pricing
the right blend of product quality, product costs, and product prices that fully satisfies the needs and wants of consumers and the profit targets of the firm
everyday low pricing (EDLP)
determining price discounts and promotions over time
forward buying
retailers order more product than they plan to sell during the promotional period so that they can later obtain a bigger margin by selling the remaining goods at the regular price after the promotional period has expired
retailers pass along or sell the discounted products to retailers outside the designated selling area
marketing channels
sets of interdependent organizations involve din the process of making a product or service available for use or consumption
direct channels
selling through personal contacts from the company to prospective customers by mail, phone, electronic means, in-person visits, and so forth
indirect channels
sell through third-party intermediaries such as agents or broker representatives, wholesalers or distributors, and retailers or dealers
pull strategy
devoting marketing efforts to the end consumer who use their buying power and influence on retailers
push strategy
devoting selling efforts to the channel members themselves, providing direct incentives for them to stock and sell products to the end consumer
branded variants
branded items in a diverse set of durable and semidurable goods categories that are not directly comparable to other items carrying the same name
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